Word: chiles
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Dates: during 1960-1969
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...merely to do the oligarchy's bidding and then quietly retire. The Church in Latin America is changing. While Rome still prohibits birth control, thereby encouraging the fecundity that is one of the continent's biggest obstacles to economic progress, many young priests quietly counsel contraception. In Chile, priests have increasingly drifted into poor neighborhoods to live and work. In Ecuador, they lead a movement to bring church property under land reform. In Bolivia, they have suggested that workers be granted a voice in their firms and a share in the profits. In Colombia, a priest was killed...
...Chile, the government of President Eduardo Frei Montalva came to terms, after weeks of negotiations, with the U.S.-owned Anaconda Company. Chile will buy 51% control of the giant copper interests of the company (see BUSINESS). It was a victory for the moderate Frei; Chile's more militant nationalists had agitated for outright expropriation of Anaconda...
...Anaconda Co., the world's biggest copper producer, refused two years ago to sell Chile any portion of its huge Chuquicamata and El Salvador mines, the source of 61% of the company's annual production and half of its earnings. Since then, the Latin American political winds have shifted. Last week Anaconda management decided that paid-for nationalization of the two mines, offered by moderate President Eduardo Frei, was better than the outright expropriation that Chilean leftists were demanding...
...company agreed to sell Chile 51% of its mines on next Jan. 1 for about $200 million. The remainder is to be sold after 1972 for a price still to be determined. Anaconda will continue to manage the mines for an annual fee of approximately 1% of sales, or roughly $5 million...
Whipping Up Emotions. Frei wants negotiation instead of legislation; Chile is unable to run the mines on its own and depends on copper for most of its foreign exchange. Still, rightists and Communists, as well as leftists within Frei's party, are preparing nationalization bills. Their demands are whipping up public emotion and may force greater concessions from Anaconda than those the company refused...